Tesla shares extend rally after China registration surge and nod from Goldman
Tesla’s stock extended its recent rally on Wednesday following a surge in China car registrations and after Goldman Sachs initiated coverage of the electric car maker with a “buy” recommendation.
UK fashion retailer Oasis Warehouse group falls into administration
British fashion brands Oasis and Warehouse have fallen into administration, threatening over 2,000 jobs and joining a growing list of store groups pushed over the edge by the coronavirus crisis.
Oil prices fall after record U.S. crude storage build
Oil prices sank on Wednesday after the United States reported a 19 million-barrel increase in inventories, the biggest weekly build ever, while forecasts showed global demand crumbling to its lowest levels in a quarter of a century due to the coronavir…
UnitedHealth maintains 2020 outlook, but warns of potential COVID-19 impact
UnitedHealth Group Inc on Wednesday reaffirmed its financial targets for the year, but cautioned it was uncertain of the impact of elective procedures being postponed by Americans during the COVID-19 pandemic.
U.S. retail sales, factory output sink as economy reels from coronavirus
U.S. retail sales suffered a record drop in March and output at factories declined by the most since 1946, buttressing analysts’ views that the economy contracted in the first quarter at its sharpest pace in decades as extraordinary measures to control…
U.S. probe unable to rule out White House influence on JEDI contract awarded to Microsoft, not Amazon
The Pentagon’s inspector general on Wednesday said it could not determine whether the White House influenced the award of a $10 billion contract to Microsoft Corp over Amazon after several officials said their conversations were privileged “president…
Wall Street slides on gloomy economic data, bank earnings
The S&P 500 recoiled from a four-week high on Wednesday, as dire forecasts for the worst economic downturn since the Great Depression were strengthened by a crash in business activity and dismal first-quarter earnings reports.
Apple releases budget iPhone SE priced at $399 as coronavirus stalls economy
Apple Inc on Wednesday released a smaller iPhone priced at $399, cutting the starting price for the company’s smartphone line in a move to broaden its appeal to budget-conscious customers as the coronavirus hobbles the global economy.
Stocks, crude plunge on economic data, oil oversupply
A double whammy of economic data showing the U.S. economy in a deep downturn and reports of persistent crude oil oversupply and collapsing demand slammed global markets on Wednesday as vivid reminders of the damage from coronavirus-related lockdowns.
Clean energy shed 106,000 U.S. jobs in March, erasing a year of gains
From solar panel installers to electric vehicle factory workers, the clean energy sector lost more than 100,000 U.S. jobs in March as stringent measures to control the new coronavirus shut down manufacturing and halted plans for home and business upgra…
